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Working Capital Management$
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Lorenzo Preve and Virginia Sarria-Allende

Print publication date: 2010

Print ISBN-13: 9780199737413

Published to Oxford Scholarship Online: May 2010

DOI: 10.1093/acprof:oso/9780199737413.001.0001

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Working Capital, Seasonality, and Growth

Working Capital, Seasonality, and Growth

Chapter:
(p.26) 3 Working Capital, Seasonality, and Growth
Source:
Working Capital Management
Author(s):

Lorenzo A. Preve (Contributor Webpage)

Virginia Sarria-Allende (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199737413.003.0003

In this chapter, we address the question of how a firm should finance its operation. More specifically, the chapter aims to help managers gain a better understanding of the relation between a firm's level of operating activity and working capital. Given that, from a managerial perspective, a certain portion of short‐term operating assets is to be considered long term, firms should select an accurate share of long‐term financing to ensure matching financing maturity to assets' average life. The chapter presents how the optimal financing choice is influenced by seasonality and growth.

Keywords:   corporate finance, working capital management, financial needs for operation, financial analysis, seasonality and growth

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